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Thursday, April 02, 2009

Inflation rises marginally to 0.31%

In the year through 21 March 2009

Inflation as measured by the wholesale price index rose 0.31% in the 12 months to 21 March 2009, marginally above the previous week's annual rise of 0.27%, government data showed today, 2 April 2009. The annual inflation rate was 7.85% during the corresponding week of the previous year.

Sustained fall in commodity prices and global economic slowdown has resulted in inflation to tumble to a record low of 0.27% in the year through 14 March 2009 from a 13-year high of 12.91% hit in August 2008

The market has been agog with expectations of rate cut by the Reserve Bank of India (RBI). The sharp fall in inflation has provided room for the RBI to cut interest rates further to support faltering economic growth.

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